Invesco (NYSE:IVZ) Stock Rating Reaffirmed by BMO Capital Markets

BMO Capital Markets reaffirmed their market perform rating on shares of Invesco (NYSE:IVZ) in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a $17.00 price objective on the asset manager’s stock, down from their prior price objective of $18.00.

Several other brokerages have also weighed in on IVZ. TheStreet lowered shares of Invesco from a b- rating to a c rating in a report on Friday, February 23rd. JPMorgan Chase & Co. decreased their price target on Invesco from $17.00 to $16.50 and set a neutral rating for the company in a research note on Wednesday. Royal Bank of Canada upped their price objective on Invesco from $14.00 to $16.00 and gave the company a sector perform rating in a research note on Thursday, January 18th. Morgan Stanley increased their target price on Invesco from $16.00 to $17.00 and gave the stock an equal weight rating in a report on Wednesday, April 17th. Finally, The Goldman Sachs Group lowered their price target on Invesco from $17.75 to $16.75 and set a neutral rating for the company in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $16.79.

Invesco Stock Performance

Shares of IVZ opened at $14.52 on Wednesday. Invesco has a one year low of $12.48 and a one year high of $18.71. The stock has a 50-day moving average price of $15.73 and a 200 day moving average price of $15.44. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.01 and a quick ratio of 5.01.

Invesco (NYSE:IVZ) last released its earnings results on Tuesday, April 23rd. The asset manager reported $0.33 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.07). Invesco had a negative net margin of 1.74% and a positive return on equity of 7.11%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the company posted $0.38 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts forecast that Invesco will post 1.75 earnings per share for the current fiscal year.

Invesco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th will be given a $0.205 dividend. The ex-dividend date of this dividend is Monday, May 13th. This is a positive change from Invesco’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a yield of 5.65%. Invesco’s dividend payout ratio (DPR) is currently -106.67%.

Hedge Funds Weigh In On Invesco

Several hedge funds and other institutional investors have recently modified their holdings of IVZ. IRON Financial LLC increased its holdings in shares of Invesco by 9.1% in the 1st quarter. IRON Financial LLC now owns 12,116 shares of the asset manager’s stock worth $201,000 after acquiring an additional 1,013 shares during the period. Live Oak Private Wealth LLC increased its stake in shares of Invesco by 4.3% in the first quarter. Live Oak Private Wealth LLC now owns 319,199 shares of the asset manager’s stock valued at $5,296,000 after purchasing an additional 13,016 shares during the period. Amalgamated Bank increased its stake in shares of Invesco by 5.7% in the first quarter. Amalgamated Bank now owns 131,032 shares of the asset manager’s stock valued at $2,174,000 after purchasing an additional 7,056 shares during the period. Insight Folios Inc raised its holdings in shares of Invesco by 2.0% during the first quarter. Insight Folios Inc now owns 390,278 shares of the asset manager’s stock valued at $6,475,000 after buying an additional 7,777 shares during the last quarter. Finally, Norden Group LLC acquired a new position in shares of Invesco during the first quarter worth approximately $450,000. Institutional investors and hedge funds own 66.09% of the company’s stock.

Invesco Company Profile

Invesco Ltd. is a publicly owned investment manager. The firm provides its services to retail clients, institutional clients, high-net worth clients, public entities, corporations, unions, non-profit organizations, endowments, foundations, pension funds, financial institutions, and sovereign wealth funds.